Senator Tillis and Senate Republicans are pushing massive cuts to unemployment benefits for North Carolinians out of work that will slash benefits from $877 to just $277 per week, in favor of handouts for corporations, business lunches, and Wall Street.
SHOT: Tillis and Senate Republicans Want to Cut Unemployment Benefits by Nearly Half, Leaving North Carolinians with on Average Just $277 per week.
- “The policy would replace a $600-a-week federal boost, which lapsed over the weekend in all states, with a reduced benefit of $200 a week. The plan would pay the new $200 subsidy through September…. That amounts to a 43% cut in total benefits when compared with the prior, $600-a-week policy, a temporary measure enacted in March under a federal relief law.” [CNBC, 7/27/20]
- “Still, come the end of July the average weekly unemployment benefit being paid to the 777,000 qualified claimants will go from $877 to $277.” [CBC Editorial, 7/9/20]
CHASER: Meanwhile, Tillis and Senate Republicans Want to Protect Corporations, Give a Tax Cut for Business Meals, Support Trump’s Financial Interests, and Help Wall Street
- “Republicans have repeatedly said that one of their chief goals is ensuring that businesses and other entities are protected from coronavirus-related lawsuits that emerge from customers and employees… Liability protections would shield schools, companies and health care providers from lawsuits related to coronavirus exposure and treatment between December 2019 and October 2024.” [Vox, 7/27/20]
- “The legislation offers a 100 percent deduction on business meals through the end of 2020. Trump and White House economic adviser Larry Kudlow have pushed the measure as a way to encourage people to support hard-hit restaurants. Experts have pointed out that few businesses are paying for their employees to eat out during the pandemic.” [Washington Post, 7/27/20]
- “Democrats suspect Trump is pressing for the money to rebuild the FBI headquarters in downtown D.C. so that it doesn’t move out from its space on 9th Street and Pennsylvania Avenue and leave open a prime piece of real estate that could be occupied by a new hotel that would pose serious competition to the Trump International Hotel across the street.” [The Hill, 7/27/20]
- “Big banks may get a big gift in the stimulus bill being drafted by Senate Republicans. Lawmakers are expected to include language that would give the Federal Reserve authority to relax a requirement surrounding capital levels at the biggest banks, essentially allowing firms to load up on riskier assets, according to three people familiar with the effort.” [New York Times, 7/27/20]